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April 25, 2018

The Changing Demographics of Homebuyers Might Surprise You...

Female homebuyers are on the rise. In a study that analyzes the U.S. Census’ Current Population Survey from 1981 until 2017, Veritas Urbis Economics found that the rising population of homebuyers are not young and male, but are older and female.

In 1981, female homebuyers were just 18.9 percent of all buyers. By 2017, that number had risen to 46.4 percent. These aren’t just women with families either: in 1981, just 9.1 percent of buyers were single women. That number grew to 18.9 percent in 2017.

Veritas Urbis Economics notes that these demographic shifts are likely due to the increasing number of educated women. In 1981, just 11.1 percent of women held a bachelors degree, while 25.1 percent of women have a degree now. Additionally, more women are working now compared to 1981. The percentage of women at work increased from 35.3 percent in 1981 to 42.5 percent in 2017.

Additionally, an increasing number of these homebuyers, men and women alike, are childless. The share of childless home buyers hit an all-time low in 2017, at 40.7 percent, down from 51.4 percent in 1981. Not just childless buyers either: single person households increased from 15.3 percent in 1981 to 21.2 percent in 2017. However, the share of all households made up of childless households fell by 20.4 percent, which Veritas Urbus Economics notes imply that the trend towards increasing childless homebuyers represents a broader demographic twin.

Many of these buyers are in the 55+ range, a drastic shift from 1981. The share of homebuyers made up of households aged 55 and over has grown to 27.8% in 2017 from just 16.1% in 1981. Meanwhile, 35 and under buyers are dropping, falling to 33.7% in 2017 from a high of 52% in 1981. The 35-54 year old demographic makes up the highest percentage of homebuyers, jumping by 20.5 percent since 1981.